Billion

<ul>
 <li><strong>Ripple releases 1 billion XRP coins, resulting in a temporary 5% price drop.</strong></li>
 <li><strong>XRP shows positive growth trends in recent weeks and months despite short-term declines, with ongoing market adaptations and sustained investor interest.</strong></li>
</ul>
<p><a href="https://www.ethnews.com/xrp-ledger-implements-key-upgrades-prepares-for-ripples-rlusd-launch/" rel="noopener noreferrer nofollow">Ripple</a>, a prominent American blockchain payment company, recently made headlines by unlocking 1 billion XRP from its escrow wallet, causing a notable 5% dip in the cryptocurrency’s price. This strategic move involved three separate transactions totaling 500 million, 400 million, and 100 million XRP, with the entire release valued at approximately $621.76 million.</p>
<h2 id="market-reactions-to-ripple-s-xrp-release">Market Reactions to Ripple’s XRP Release</h2>
<p>The release significantly increased the circulating supply of XRP, triggering immediate price fluctuations in the market. According to the latest data, the price of XRP adjusted to $0.6214, marking a 5% decrease within 24 hours of the release. This price movement reflects investor reactions to the increased supply, adhering to the basic economic principle of supply and demand. Despite these fluctuations, <a href="https://www.ethnews.com/speculation-about-rollblock-expansion-causes-influx-of-ethereum-and-ripple-investment/" rel="noopener noreferrer nofollow">XRP</a>‘s price recorded a low of $0.611 and a peak at $0.6524 during the same period.</p>
<p>However, looking beyond the immediate market response, <a href="https://www.ethnews.com/ripple-chairman-chris-larsen-moves-18m-xrp-amid-market-speculation-what-happens-now/" rel="noopener noreferrer nofollow">XRP</a> has demonstrated resilience and potential for growth. Over the past week, the cryptocurrency has seen a 6% increase in value, and the monthly trend shows an even more encouraging 11% rise. This suggests that while short-term impacts due to large releases can affect prices, the overall market sentiment towards XRP remains positive.</p>
<p>Additionally, <a href="https://www.ethnews.com/why-this-ripple-xrp-whale-is-betting-on-a-new-ai-finance-coin-set-to-skyrocket-14000-by-launch/" rel="noopener noreferrer nofollow">Ripple</a>‘s engagement with stablecoins adds another layer to its market strategy. The company recently minted 80,000 units of its RLUSD stablecoin, which coincides with a broader rally in the cryptocurrency markets. This move could potentially bolster investor confidence and support the price of XRP in the face of large-scale unlocks.</p>
<p>Despite these optimistic signs, there is noticeable caution among investors. Data from Coinglass reveals a 7% reduction in the open interest for <a href="https://www.ethnews.com/ripples-legal-win-spurs-xrp-comeback-on-robinhood-triggering-10-price-surge/" rel="noopener noreferrer nofollow">XRP</a> futures, with a corresponding 50% decrease in derivative volumes, settling at $2.21 billion. This contraction in trading activity highlights the market’s uncertainty and cautious stance in the short term.</p>
<h2 id="looking-forward">Looking Forward</h2>
<p>As the end of the year approaches, market participants are keenly observing <a href="https://www.ethnews.com/ripples-2024-breakout-is-this-altcoin-the-key/" rel="noopener noreferrer nofollow">XRP</a>, anticipating potential significant price movements. Predictions hint at a possible climb to a target price of $3 by Christmas, reflecting both the speculative nature of cryptocurrency investments and the influence of external market factors.</p>
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<p>The post <a href="https://www.ethnews.com/ripples-strategic-release-of-1-billion-xrp-triggers-price-adjustment/" rel="noopener noreferrer nofollow">Ripple’s Strategic Release of 1 Billion XRP Triggers Price Adjustment</a> appeared first on <a href="https://www.ethnews.com" rel="noopener noreferrer nofollow">ETHNews</a>.</p>

Ripple’s Strategic Release of 1 Billion XRP Triggers Price Adjustment

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